Rowan Companies plc (RDC) Shares Slide -4.99%

Rowan Companies plc (RDC) : During the past 4 weeks, traders have been relatively bearish on Rowan Companies plc (RDC), hence the stock is down -22.4% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -4.93% relative to the S&P 500. The 4-week change in the price of the stock is -19.79% and the stock has fallen -4.99% in the past 1 week.

The stock has recorded a 20-day Moving Average of 10.93% and the 50-Day Moving Average is 12.58%. Rowan Companies plc has dropped 18.98% during the last 3-month period . Year-to-Date the stock performance stands at -10.09%.


Rowan Companies plc (NYSE:RDC): stock turned positive on Friday. Though the stock opened at $14.84, the bulls momentum made the stock top out at $15.34 level for the day. The stock recorded a low of $14.71 and closed the trading day at $15.24, in the green by 1.40%. The total traded volume for the day was 2,450,078. The stock had closed at $15.03 in the previous days trading.

Also, Raymond James downgrades its view on Rowan Companies plc (NYSE:RDC) according to the research report released by the firm to its investors. The shares have now been rated Market Perform by the stock experts at the ratings house. Earlier, the shares had a rating of Outperform. The rating by the firm was issued on July 26, 2016.

Rowan Companies plc (Rowan) is a provider of international and domestic offshore oil and gas contract drilling services. Its operation broadly consists of Drilling Fleet and Contracts. It has a fleet of 30 self-elevating mobile offshore jack-up drilling units and four ultra-deepwater drillships. It conducts offshore drilling operations in the United States Gulf of Mexico (US GOM), the United Kingdom (UK) and Norwegian sectors of the North Sea, the Middle East, West and North Africa, Southeast Asia and Trinidad. The Companys jack-ups are capable of drilling wells to depths ranging from 25,000 to 40,000 feet and in water depths ranging from 250 to 550 feet. Its ultra-deepwater drillships are capable of drilling wells to depths of 40,000 feet and in water depths of 12,000 feet. The Companys drilling contracts provide for a fixed amount of compensation per day, and are either well-to-well, multiple-well or fixed-term generally ranging from one month to several years.

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